The world has changed in myriad ways since the COVID-19 pandemic first began in 2020. One issue that nobody initially saw coming is the wide array of supply chain issues that have impacted nearly every industry. The home renovation and construction fields have been hit especially hard by the ongoing lumber shortage that is affecting companies not only in North Carolina and South Carolina, but throughout the United States, and even around the world.
If you have an upcoming roofing project planned, you might be wondering if the lumber you need for the job will actually be available when the time comes for your crew to get started. As you read this guide, you’ll discover how your roofing job could be impacted by supply chain problems, specifically those impacting the lumber industry.
What led to the lumber shortage in 2021?
Before you can understand how your home improvement project might be impacted, you need to understand why there is a lumber shortage in the first place. During lockdown, an increasing number of Americans and Canadians decided to update their houses because they were spending more time at home than ever before.
This meant that suppliers, particularly in Canada where a large amount of lumber comes from, struggled to keep up with demand amid their own COVID-related restrictions, such as employee shortages.
What does this mean for your project?
One of the major ways the lumber shortage could impact your roofing job is your bottom line. Per the law of supply and demand, lumber prices have increased as the amount of available lumber has decreased. Per the National Association of Home Builders, the price of lumber per thousand board feet astronomically increased from about $250 to over $1,400 in May 2021.
Furthermore, the fact that lumber is still scarce even in 2022 means that the timeline of your project could be affected as well. If your roofing contractor is unable to obtain the materials he or she needs for your job, it may have to be done later than expected. This could, potentially, delay your plans for other household projects that hinge on the roofing work being completed first.
Is there an end in sight?
Other building materials outside of lumber have also been heavily impacted by supply chain issues. Countertops, shingles, home appliances, and even light fixtures have all faced shortages, as a matter of fact.
Fortunately, the cost of lumber has dropped somewhat since it reached its peak last May. Although remodelers are far from out of the woods from a cost perspective, this is good news for homeowners. As prices continue to drop, this could actually be a great time to start a project you’ve been putting off – because others are still concerned about costs, contractors may have more open availability than they typically do, even at peak times of year.
If you are interested in getting a no-obligation quote for a roofing project anywhere in North Carolina or South Carolina, give the Hatch Homes team a call today. We are here to help you make your house into your dream home.